Needham & Company LLC Reiterates Hold Rating for Biogen (NASDAQ:BIIB)

Needham & Company LLC reaffirmed their hold rating on shares of Biogen (NASDAQ:BIIB) in a research report released on Thursday,Benzinga reports.

A number of other equities research analysts have also commented on the company. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research report on Monday, April 28th. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Scotiabank reduced their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reduced their price objective on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $188.19.

Biogen Stock Down 1.3%

NASDAQ:BIIB opened at $130.65 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $123.75 and a 200-day simple moving average of $137.42. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.51 and a beta of 0.14. Biogen has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the company earned $3.67 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen during the 1st quarter worth about $26,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the 1st quarter worth about $27,000. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.